HCMC Stock: Healthier Choices Management Unable To Sustain At Higher Levels

When a stock is in a phase of consolidation, it is often a...

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When a stock is in a phase of consolidation, it is often a good idea for investors to analyse it since there is always the chance of a strong breakout.

Last week, the Healthier Choices Management Corp (OTCMKTS:HCMC) stock had been in the middle of a tough slump. The stock had in fact tanked by as much as 20%, but over the past couple of days, the stock has been in consolidation mode. In this situation, it might be worthwhile for investors to take a look at a key announcement from the company yesterday.

Healthier Choices announced yesterday that The Health Center that is based out of Colorado will launch the sale of Q-Cups, a product for which the company owns the patent. However, that is not the only thing to point out. The Health Center is going to fill the Q-Cups with concentrates made by the NUHI brand and then make them available for purchase at its dispensaries in Colorado.

The company is going to have a soft launch of the product over the course of the coming weeks. The full-scale launch is going to take place on July 10, 2021. After the full-scale launch, The Health Center is going to distribute Q-Cups on wholesale to licensed dispensaries located all over Colorado.

Another major factor that had been responsible for the drop in the stock price had been the announcement about the closing of the company’s rights offering last week. The rights offering had been a highly publicized event from the Healthier Choices Management Corp and the successful closing of the same had led to a bit of a selloff in the stock. However, at the same time, it should be noted that it does not seem to be a factor that is going to affect the stock for long. Investors could consider adding the stock to their watch lists at this point.

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